Means Test Calculator

Version 20141201 (December 1, 2014)

This is a public beta. "Public beta" means that, to my knowledge, this calculator is working correctly. When I am made aware of errors I fix them. As of this version, there are no errors I know of.

That said, I've developed enough software over the years to know that there are always cases that turn up that were not encountered in testing. Also, this revision features several under the hood rewrites to make the code more efficient and easier to maintain.

Use the calculator as you see fit. You can click the links to original sources to confirm that they are correct and up to date. You can also check its math. As far as I know, it's correct. Chances are, this will always be a beta because it is being constantly updated, tweaked, enhanced, etc.

I hope you find it useful as you decide how to deal with your financial affairs.

Welcome to the NEW Means Test Calculator

We've tested the calculator, and feel it's worthy of launching to the public. Please let us know if you find any flaws, and we will fix them.

Note: The calculator now saves your data whenever you press Enter (or Return) within a field or click Save. After saving your data, you must refresh the page to see your updated values integrated into the summaries and the table of contents, which appear outside the form itself.

So, if you notice stale data in the table of contents or the summary, make sure you save your data (by clicking Save or hitting Enter while in a field) and then refresh the page.

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What Is the Means Test?

What is the means test?

You may have read that the 2005 bankruptcy law (BAPCPA) imposes a "means test" on who can file for Chapter 7 bankruptcy.

You might think this new test will prevent you from filing. But, chances are, you're wrong. Most people considering bankruptcy have no trouble passing the means test. Indeed, some lawyers think more people will qualify for Chapter 7 under this test than under the old law, where judges had no fixed formula.

Use this calculator find out where you stand.

The Formula

The law now uses a standard mathematical formula to determine whether you can file for Chapter 7 -- or, to put it in legal terms, whether filing for Chapter 7 would be an 'abuse' of the bankruptcy system. (Those who fail the means test, are left with a Chapter 13 repayment plan as their only bankruptcy option.)

The means test is actually a two-part test and you only need to pass one of them to qualify for Chapter 7.

Test 1. "Median Income" (Form 22A-1)This is a very simple test that compares your average household income for the past six calendar months to the median income for your state, If your income is below the median, you qualify for Chapter 7. If it is above the median, you must pass Test 2.

Test 2. "Disposable Income" (Form 22A-2)This test deducts expenses from your income to determine how much you can pay your unsecured creditors over the next five years:

If you can pay at least $12,475 ($207.92 per month), you can't file for Chapter 7.

If you can pay at least $7,475 ( about $124.58 per month)

and that is at least 25% of what you currently owe your unsecured creditors, you can't file for Chapter 7.

If your disposable income is less than $124.58 per month, you can file for Chapter 7.

Certain deductions are standard allowances based on the number of vehicles you operate, the number of people in your household, and the cost of living in .

In addition, to these standard deductions, you can also deduct the full amount of certain actual expenses such as mortgage and vehicle loan payments.

Do I Need to Complete the Means Test?

Do I need to complete the means test?

If you are filing for Chapter 13 bankruptcy, you do not need to complete the means test. However, you do need to complete a form almost identical to it — and that will determine how much you must pay in a Chapter 13 plan.

If you want to file for Chapter 7 bankruptcy, you must at least complete Form 22A-1 to figure your "current monthly income" (CMI), which is based on your average income over the past six calendar months. That number will determine whether you must complete the rest of the form.

If your CMI is below the median income for for a household your size, then you do not need to complete Form 22A-2.

If your CMI is higher than the median for for a household your size, you must complete Form 22A-2 to compute your monthly "disposable" income (that is, income minus expenses). The result of that computation will determine whether you are eligible for Chapter 7 bankruptcy.

How Long Does This Take?

How long does this take?

Using this calculator takes about 20 minutes. For some, the answer may be obvious after only a few questions.

Is it private?

This calculator is completely anonymous. We do not ask -- and no not want -- any personally identifying information linking you to these numbers, other than a zip code. We do keep statistical data on amounts that user have entered, so that the site may monitor the needs of its users and adjust services accordingly. However, To us, this is data for statistical analysis only. For more information. See the privacy notice.

Garbage in, garbage out

If you don't put in the correct numbers in the correct blanks, this calculator won't give you an accurate result. It only does the math. It is your responsibility to put the right numbers in the right blanks. Helpful resources are available throughout the test to help you figure out what the form is asking for and what to put where.

Be sure to account for all the different kinds of income you receive. If you're not sure what to put in an 'expense' blank, skip it. You may find that it doesn't' matter -- that is, you may qualify regardless of what number you put in that blank.

If you need assistance, this website has listing of books and local services that offer bankruptcy help.

Household Size: When is a family of 3 not a family of 3?

Household Size: When is a family of 3 not a family of 3?

The issue of household size can be tricky in cases of shared custody, children who live at college part of the year, or non-custodial children living in the household.

There will undoubtedly be litigation on this subject. The official form seems to suggest that the issue is whether the person is part of the household and is a dependent. (That is, you can't include a roommate who is not your dependent in your household size, yet you may have to include the portion of their income that contributes to the overall income of the household. See the help topic on that subject. This can be an issue for same-sex couples who cannot legally marry.)

RELATED INFO:

In April 2010, the United States Trustee's office issued a PDF of their official position on legal issues surrounding each line of the Chapter 7 means test form 22A. Keep in mind that the Trustee tends to protect creditor interests, so a debtor's bankruptcy attorney may not agree with every one of these positions. That said, if you can easily pass the means test under the trustee's relatively stingy interpretation of the rules, all the better.

OLD FORM Line 14, (New form 22A-1, Line 13) Applicable median family income.

"Applicable state" is state of residence at filing.

If married and two different households, residence is where most family members reside.

If no plurality of family members are in any one state, use state of spouse with highest income.

"Household size" is the debtor, debtor's spouse, and any dependents that the debtor could claim under IRS dependency tests. The USTP uses the same IRS test for the definition of both"household" and "family." IRS Publication 501 explains the IRS tests for "dependent."

The USTP departs from the IRS dependent test (as does the IRS when it determines family size for collection purposes) in cases justifying "reasonable exceptions" (e.g. a long standing economic unit of unmarried individuals and their children). However, if an individual is counted as a family member for median income purposes, that individual's income should be included as income on Part II of Form 22A .

Includes payments from roommate, partner, parent, or relative, regardless of whether living with debtor.

Includes payments made directly to creditors on behalf of debtor, e.g., rent, car, or insurance.

Does not include payments from non-filing spouse (which are already included as income in Column B).

Contributions of Roommates or Domestic Partners to Household Income

Contributions of roommates or domestic partners to household income

At least one site on the web has addressed this issue. King's Bankruptcy Media (a lawyer's website) states what appears to be the correct rule: that, if a roommate or domestic partner is contributing income to the household, then that portion of the roommate's income must be included in the overall amount of 'household income' on line 4 of Form 22A-1, where it asks for "contributions to household income."

If married and two different households, residence is where most family members reside.

If no plurality of family members are in any one state, use state of spouse with highest income.

"Household size" is the debtor, debtor's spouse, and any dependents that the debtor could claim under IRS dependency tests. The USTP uses the same IRS test for the definition of both"household" and "family." IRS Publication 501 explains the IRS tests for "dependent."

The USTP departs from the IRS dependent test (as does the IRS when it determines family size for collection purposes) in cases justifying "reasonable exceptions" (e.g. a long standing economic unit of unmarried individuals and their children). However, if an individual is counted as a family member for median income purposes, that individual's income should be included as income on Part II of Form 22A .

Old Form Line 8 (New Form 22A-1, Line 4), Any amounts paid by another person or entity, on a regular basis, for the household expenses of the debtor or the debtor's dependents, including child or spousal support.

Includes payments made monthly, quarterly, or annually.

Includes payments regardless of written agreement with contributor.

Includes payments from roommate, partner, parent, or relative, regardless of whether living with debtor.

Includes payments made directly to creditors on behalf of debtor, e.g., rent, car, or insurance.

Does not include payments from non-filing spouse (which are already included as income in Column B).

ChooseToSave.org offers an extensive list of calculators for all types of financial decisions including car loans, credit cards, college savings, to retirement savings options.

If I Pass the Means Test, Can I still be barred from filing bankruptcy?

If I Pass the Means Test, Can I still be barred from filing bankruptcy?

Yes, you can still be barred from filing Chapter 7 bankruptcy.

Passing the means test removes one barrier: it means that you are not "presumed" to be "abusing" the bankruptcy system under 707(b)(2).It is an essential first step, and for most people, that is that. They are clear to file.

However, in some cases, a bankruptcy judge may rule that case should be dismissed becuase to the "totality of the circumstances" under707(b)(3).

Example 1: In Iowa, a judge ruled that a debtor was abusing the system because in the year preceding his bankruptcy, he received substantial sums of money from various sources and spent it all on unnecessary indulgences, rather than pay down his debt. In re James, 345 B.R. 664 (Bkrtcy.N.D.Iowa 2006).

And, while the means test income analysis looks backward, a court can use 707(b)(3) to look forward.

If I fail the Means Test, can a judge allow me to file anyway?

If I fail the Means Test, can a judge allow me to file anyway?

Yes, a judge can allow you to file for Chapter 7 bankruptcy even if you fail the means test, but only you are able able to show "special circumstances."

Some examples of possible "special circumstances" are job loss or pay cut, a serious medical condition, or unusually high child care expenses. You must be able to produce proof of your expenses and that your expenses are reasonable -- and that you have no reasonable alternative.

What are "priority claims"?

What are "priority claims"?

This is a technical term used in bankruptcy law. A list of the most common priority claims can be found on Form 10 (Proof of Claim). These include

past due debts for child and spousal support,

most unpaid taxes, and wages,

salaries or commissions you owe to employees and

contributions you owe to an employee benefit fund.

The full list of the nine types of priority debt is found in section 507(a) of the bankruptcy code

Line by Line Means Test Positions of the U.S. Trustee 4/23/2010

STATEMENT OF THE U.S. TRUSTEE PROGRAM'S POSITION ON LEGAL ISSUES ARISING UNDER THE CHAPTER 7 MEANS TEST

Following is a line-by-line summary of Form B 122A and various recurring disposable income issues likely to arise in chapter 7 under the BAPCPA provisions of 11 U.S.C. § 707(b). The summary gives the position of the United States Trustee Program (USTP) on these issues. For ease of reference, the USTP positions are listed in summary fashion without citation to legal authority. The referenced lines are those on the Form B 122A. Unless a circuit court has decided an issue to the contrary, United States Trustees should, absent unusual circumstances, maintain these positions when interpreting section 707(b).

Line 14, Applicable median family income.

If married and two different households, residence is where most family members reside.

If no plurality of family members are in any one state, use state of spouse with highest income.

"Household size" is the debtor, debtor's spouse, and any dependents that the debtor could claim under IRS dependency tests. The USTP uses the same IRS test for the definition of both "household" and "family." IRS Publication 501 explains the IRS tests for "dependent."

The USTP departs from the IRS dependent test (as does the IRS when it determines family size for collection purposes) in cases justifying "reasonable exceptions" (e.g. a long standing economic unit of unmarried individuals and their children). However, if an individual is counted as a family member for median income purposes, that individual's income should be included as income on Part II of Form B 122A .

Line 17, Marital adjustment.

All income of the non-debtor spouse should be included, except the following expenses of the non-debtor spouse may be excluded:

withholding taxes;

student loan payments;

prior support obligations;

debt payments on which only the non-filing spouse is legally liable and where the consideration for the loan exclusively benefits the non-filing spouse. (Credit cards used to pay for household expenses may not be deducted on Line 17).

Line 19B, National Standards: health care.

National Standard amounts may be claimed based on debtor, debtor's dependents, debtor's spouse, and the age of household members.

Actual mounts expended by the debtor exceeding the National Standards that are required for the health and welfare of the debtor, debtor's dependents, and debtor's spouse, which are not reimbursed by insurance or paid by a health savings account, may be claimed on line 31.

Line 20A, Local Standards: housing and utilities; non-mortgage expenses.

Line 20B, Local Standards: housing and utilities, mortgage/rent expense.

Based on county of residence; see line 14 for resolving multiple residences.

The following are included in the Local Standard and may not be counted elsewhere, except as provided on lines 42 and 43:

principal and interest on mortgage loan;

rent;

homeowners/renters insurance;

local property taxes.

Line 20B(b) is the same figure as line 42 for house payments.

Debtor may not "double dip," that is take the full amount of the Local Standard for mortgage/rent on line 20B(a) and then fail to deduct the monthly mortgage payment on line 20B(b). The overall effect of disallowing double-dipping is to allow the debtor to take only the higher of the actual mortgage payment or the Local Standard.

If the home is being surrendered, the debtor may not include the mortgage payment on lines 42 and 43, and may not deduct the mortgage payment on line 20B(b). The debtor may, however, claim the full amount of the Local Standard for housing on line 20A.

Debtors and joint debtors are entitled to only one Local Standard mortgage/rent payment, even if maintaining two separate households.

Vacation homes do not entitle a debtor to the Local Standard on line 20B.

Debtor may not claim a Local Standard on line 20B when the debtor:

is and has been living with a friend or relative for an extended period of time at no cost;

is and has been living in military or other employer-paid housing.

Line 21, Local Standards: housing and utilities; adjustment.

This line is often used improperly by debtors to claim housing expenses in excess of the IRS standards; USTP policy is to object to that use of line 21.

This line is occasionally used by debtors who claim that Form B 122A incorrectly captures the separation of the IRS housing Local Standard into two components, a mortgage component and a non-mortgage component; the USTP will object to that use of line 21.

The Local Standard for vehicle operation may be taken when the debtor owns, leases, or pays the operating expenses on a vehicle.

The Local Standard for vehicle operation for zero vehicles may be taken if the debtor does not own, operate, or pay operating expenses on any vehicle.

A vehicle must be "street ready" and licensable.

A vehicle designed without an engine does not qualify, e.g., camper or trailer.

Debtors located outside of the Fifth, Seventh, and Eighth Circuits who operate vehicles not subject to a loan or lease may deduct an additional $200 if the vehicle is owned by the debtor, and is older than six (6) model years or has more than 75,000 miles.

Line 22B, Local Standards: transportation, additional public transportation expense.

If debtor claims vehicle operating expense for one or more vehicles on Line 22A, debtor may only claim additional public transportation expense if reasonable and necessary for the health and welfare of the debtor, debtor's dependents, and debtor's spouse, or for the production of income.

If additional public transportation expense is applicable, it is capped by Local Standard amount for public transportation.

Outside the Fifth, Seventh, and Eighth circuits, debtor cannot claim the vehicle ownership expense if the debtor does not have a secured loan or a lease on the vehicle.

In the Fifth, Seventh, and Eighth circuits debtor may claim this expense if the debtor owns a vehicle regardless of whether the debtor has a loan or lease payment. However, if the debtor owns a vehicle free and clear the USTP position is that the lack of any actual ownership expense may be considered in determining whether the case constitutes an abuse under the totality of the debtor's financial circumstances pursuant to section 707(b)(3)(B).

If the vehicle is being surrendered without replacement, the debtor may not claim the expense. But see discussion regarding line 42.

If the vehicle is borrowed, the debtor may not claim the expense.

Debtor may not "double dip," that is take the full amount of the vehicle ownership expense on line 23(a) and then fail to deduct the monthly lien payment on line 23(b). The overall effect is to allow the debtor to take the higher of the actual loan or lease payment and vehicle ownership expense.

A debtor whose household contains a single driver is generally entitled to an ownership expense for only one vehicle.

Line 31, Other Necessary Expenses: health care.

Includes only unreimbursed, out-of-pocket expenses, exceeding the National Standard amounts provided for at line 19B, including items traditionally reimbursable through a flexible spending or "cafeteria" medical saving plan. For example:

deductibles

medications

therapy

co-pays

Does not include payments for health insurance or health savings account; those are covered by line 34.

Does not include flexible spending account or "cafeteria" medical saving plan contributions, which should be deducted as excess costs on line 31 to the extend they exceed to line 19B IRS standard amounts.

Line 35, Continued contributions to the care of household or family members.

Line 40, Continued charitable contributions.

The USTP position is that charitable contributions under section 707(b) are available to both below median and above median debtors. The Religious Liberty and Charitable Donation Clarification Act of 2006, Pub. L. 109-439 clarifies the Bankruptcy Code to ensure that above-median debtors may make continued charitable contributions.

Line 42, Future payments on secured claims.

Total all payments coming due in the 60 months following filing and divide by 60.

In the case of a variable rate loan, use the loan rate in effect on the petition date tocalculate the payments.

In the case of a "balloon" payment within 60 months, use the full amount of theballoon to calculate the average payment.

Does not include property subject to a lease rather than a loan.

Includes all secured debt, even "toys" and luxury items. Although the USTP positionis to allow secured payments for luxury items on this line, the Program believes that luxury expenses may demonstrate that a petition was filed in bad faith warranting dismissal of the case under section 707(b)(3)(A), and may be considered in determining the totality of the debtors financial circumstances under section 707(b)(3)(B).

Includes a secured loan payment, even when the value of the collateral is less than the amount of the loan.

Outside the First Circuit, does not include payments when the debtor intends to surrender the collateral securing the loan.

In the First Circuit, debtor may include payments on line 42 when the debtor intends to surrenderthecollateralsecuringtheloan. However,theUSTPpositionisthatthe failure of the debtor to continue to make the payments post-petition in surrendering the property may be considered in determining the totality of the debtor's financial circumstances under section 707(b)(3)(B).

Line 45, Chapter 13 administrative expenses.

Debtor must project a hypothetical chapter 13 plan payment to calculate the figure on line 45a. The USTP does not insist on mathematical exactitude and allows a reasonable estimation of the hypothetical chapter 13 plan payment.

Generally the plan payment should be calculated based on the amount of monthly disposable income suggested by the completion of the means test, or shown on Schedules I and J.

Introduction: Are You Eligible for Chapter 7 Bankruptcy?

Despite what you may have heard about changes in bankruptcy law, most people who need bankruptcy protection are still eligible.

Are you?

This calculator will help you find out.

It applies the formulas, regional income and expense standards, and calculations of the new "means test" that was a cornerstone of BAPCPA, the 2005 bankruptcy law (11 U.S.C. 707(b)). It uses the language and formatting of the new, 2014 version of Official Form B122A-1, Official Form B122A-1Supp, and Official Form B122A-2 , just a few of several forms you will need to complete if you decide to file for bankruptcy.

If your income is below this amount, you meet
the requirements of the "means test" (section 707(b)(2) of
the bankruptcy code) to qualify for Chapter
7 bankruptcy.

The chart below makes it a bit simpler to figure out. Compare your six-month total income over the last six calendar months to the "6 Mo. Total" in the chart below to get a rough idea of which side of the line you fall.

(*The applicable household size is the number that would currently be allowed as exemptions on your federal income tax return, plus the number of any additional dependents whom you support.)

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Median Income Test Explained

The bankruptcy law determines your income by looking at your household
income during the six full calendar months before you file for bankruptcy.

Effect of the six-month income rule

If your income declined suddenly within the past six months and has
not yet increased, waiting until after the first of the month to file
will lower your monthly income figure used for the means test. That
is, even if you don't qualify this month, you may qualify after the first
of next month, or the month after that, if your income remains below
the average monthly income for your state.

Effect of the number of people in your household

You may have noticed already that changing the number
of persons in the household dramatically affects the median
income figure. You can't include a roommate who is not your
dependent in your household size, yet you may have to include the portion
of their income that contributes to the overall income of the household.
See the help topic on that subject.

* If your six-month household income was less than the median for your state, consider
this:

Complete Form B122A-1 of the calculator to make sure that you've properly computed your income. Although you are not legally required to complete Form B122A-2, the "expenses" part of the means test, it will give you a sense of how a judge or trustee might view your ability to pay.

Some judges look to your ability to pay as part of the "totality of the
circumstances" test (Section 707(b)(3)), and will bar you from Chapter 7 bankruptcy, whether your income is above or below the median.

Bottom line: Whatever your income, if the calculator indicates that
you have money left over after expenses, study the list of allowed expenses
in the means test form and fill in any that apply.

Another thing to worry about: Some judges may rely on different required forms
as guides in looking at the "totality of the circumstances" under 707(b)(3): Specifically Form
6, Schedules I and J. These forms also deal with income and expenses but can yield a different "disposable
income" result than the means test form (Form B122A) because different things are allowed and excluded on each form. Most notably, the means test income
formula (and this calculator) excludes income from Social Security benefits, while Schedule
I does not. Whether your Social Security income can render you ineligible for Chapter 7 is an unsettled area of law. At least one court has ruled that, by enacting the means test as it did, Congress intended that Social Security income be excluded when determining Chapter 7 eligibility; however, it still must be reported on Schedule I.

If you have significant income from Social Security benefits, be aware of this issue.

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The book covers the entire process, and gives you the line-by-line instructions you need to fill out the required Chapter 7 bankruptcy forms. Meanwhile, this website gives you access to the latest local court information and county standards for the means test calculations that need to file a sucessful bankruptcy petition.

But first, use the book to find out whether or not Chapter 7 is the best way to deal with your debts. It's important to learn what bankruptcy cannot do. You don't want to go to all the trouble of filing bankruptcy only to find out that the it won't help solve your particular problem or kind of debt.

If you do decide Chapter 7 bankruptcy is the right option, you'll learn how you can use it to:

cancel as much debt as possible

stop wage garnishments and attachments

keep the maximum amount of property using Michigan exemption laws

deal with secured debts and liens on your property

keep your home and car, if possible.

If you think you want to file for bankruptcy but aren't sure you can afford to hire an attorney, How to File for Chapter 7 Bankruptcy will help you learn what it takes to complete your bankruptcy petition on your own and complete the bankruptcy process.

Press Reviews

"Exceptionally clear."

The New York Times

"How to File for Chapter 7 Bankruptcy advises on everything from how to file court papers to how to respond to threats from creditors.... A do-it-yourself bankruptcy book for people who can’t afford expensive lawyers."

Newsweek

"An in-depth guide to filing under Chapter 7, including state-by-state and federal exemptions as well as forms for do-it-yourself filers."

Kiplinger’s Personal Finance Magazine

"Can help you decide if bankruptcy is the right option for you."

Detroit News

"A valuable, easy-to-understand workbook."

Los Angeles Times

"Includes clear instructions on when and how to fill out all the necessary forms, which assets you may legally keep, even advice on whether your case is complicated enough to make it worth your while to hire a lawyer."

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"The best [bankruptcy books] I know are published by Nolo."

Harry S. Gross, host of

“Speaking of Your Money”

"Covers all the recent changes to the bankruptcy law, and shows you how to get through the entire process with the least damage."

Accounting Today

Customer Review

"I bit the bullet, and purchased Nolo's How to File Chapter 7 Bankruptcy. I represented myself in court and I was granted a discharge of all debts five months later."

Are you behind on your mortgage, taxes or other bills? Are creditors threatening foreclosure or repossession? Consider Chapter 13 bankruptcy, which can give you an affordable repayment plan -- and let you keep your house, car and other property. Use this plain-English guide to decide whether or not it's right for you.

Nolo's Chapter 13 Bankruptcy breaks down the Chapter 13 process and provides clear explanations of the law. First, you can:

whether you can reduce your car loan balance, or the balance on other secured debts

whether you can get rid of second mortgages or home equity debt

If you think Chapter 13 bankruptcy could work for you, you'll be ready to:

determine (with the book's forms and step-by-step instructions) whether you have enough income to come up with a repayment plan that the court will approve

calculate the amount of your monthly plan payment

find and work effectively with an excellent lawyer, and

rebuild your credit after bankruptcy.

This newest edition includes information on hiring and working with a lawyer, recent court rulings that interpret the federal bankruptcy laws. You'll also find the latest bankruptcy exemption laws in your state, which determine which assets you can keep, and recent IRS standard expense amounts, which affect Chapter 13 plan payments.

An astounding 80% of credit reports contain errors. If yours is one of them, it can have serious consequences: a bad credit score can make you ineligible for a good rate on a credit card or loan, keep you from renting a place to live, and even sabotage your chances of getting hired for a new job.

Credit Repair shows you how to find mistakes or outdated items in your credit report and get them fixed -- and limit the damage caused by blemishes in your credit history.

Press Reviews

"With last year's change in the bankruptcy laws creating unprecedented confusion in the field, it's important to know whether it remains a viable option, and this book will offer both explanations and reassurances..."

by Attorney Stephen R. Elias

Facing foreclosure? Know your options!

If you're having trouble making your mortgage payments or are already in jeopardy of foreclosure, The Foreclosure Survival Guide compassionately gives you the practical information you need, step by step.

The Foreclosure Survival Guide gathers all the information Attorney Stephen R. Elias used to help hundreds of clients in over 30 years and shows you how to deal with foreclosure.

Like many hardworking people facing foreclosure in this rough economy, you deserve answers to your pressing questions. Thorough and easy to understand, The Foreclosure Survival Guide can help you stay in your home or walk away with money in your pocket.

Feeling overwhelmed by debts? If you're ready to regain your financial freedom and get smarter about managing your money, you'll find everything you need in this complete guide. Solve Your Money Troubles shows you how to:

prioritize debts

create a budget

negotiate with creditors

stop collector harassment

challenge wage attachments

contend with repossessions

respond to creditor lawsuits

qualify for a mortgage

rebuild credit

decide if bankruptcy is the right option for you

To make the process easier, the 14th edition of Solve Your Money Troubles includes sample letters to creditors that reflect changing financial times, as well as worksheets and charts to calculate your debts and expenses and help you create a repayment plan. You'll also get fully updated state laws and information on dealing with foreclosure.